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Tuesday, February 7, 2012

More warnings of rising fuel prices

Observation:  Several news organizations are reporting that gas prices are projected to rise significantly this spring and summer, to as high as $4 per gallon or more.  Here’s one example of the coverage, from USA Today (click to link).

Implications:   The last time gas prices spiked like this was the summer of 2008, aggravating an already painful recession.  This time around, it seems as if we’re getting more warning; I’m not sure that will make prices at the pump less painful, but perhaps at least they will be less shocking.

If it happens, and consumers restrain spending in other areas to fund their commute, what kinds of messaging could you do to make sure your product or service avoids the chopping block?  In what ways does your product or service add value to the consumer’s life?  Is that value substantial?  Are you explaining it effectively? 

For more on the volatile price of energy, see other stories related to The Fuel Economy by clicking here.

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

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